The Real Estate Consumer’s Bill of Rights
Even if I didn’t work at Redfin I’d still point you to the just released Real Estate Consumer’s Bill of Rights. As you know I tried to fire and then pursue some sort of action against the agent I used to purchase at the Meritage and so when the opportunity came up to contribute to this document I did:
4. Know what services your agent will provide: Much of the work of a buyer’s agent begins after the buyer has agreed to buy a house. This work includes coordinating inspections, repairs, mortgages, title reviews and escrow services. But agents today are paid only to bring a buyer to a transaction. Once that happens, it is virtually impossible to fire your agent. In most cases, this is appropriate, as the agent who puts a deal together deserves the commission. But in becoming committed to an agent, you should know what services the agent will provide as part of that commitment and what recourse you have if the agent doesn’t perform those services. An open agreement between you and the agent protects the agent from being unfairly dismissed, and ensures you get the service you expect through closing.
And I know I still owe you all the full story and it will come.
Also, I’m busy now but I’m sure we could come up with a list of best practices for developers and their agents with regards to new construction that might read similar to this more general consumer bill of rights.